Compass NorCal April 2019 Real Estate Update
While pace of sales in April still trends below last year’s levels in most Bay Area regions in which Compass (reflecting the company formerly known as Pacific Union) operates, there are signs that buyers are returning, and sales activity is picking up. Click on each of our regions below for an expanded look at local real estate activity in April.
CONTRA COSTA COUNTY
April median sales price in Contra Costa County picked up from the previous three months and leveled out with last year at $1,325,000. After slower winter months and longer days on market, homes are selling relatively faster, though still slightly slower than last year. See Contra Costa County market statistics for April.
Defining Contra Costa County: Our real estate markets in Contra Costa County include the cities of Alamo, Blackhawk, Danville, Diablo, Lafayette, Moraga, Orinda, Pleasant Hill, San Ramon, and Walnut Creek.
EAST BAY
Median home price in the East Bay in April picked up pace again reaching another peak at $1,246,500, up 10.8 percent above last year’s April price. Pace of sales activity also picked up with homes selling an average of 19 days, slightly above last year’s 17-day average. See East Bay market statistics for April.
Defining the East Bay: Our real estate markets in the East Bay region include Oakland ZIP codes 94602, 94609, 94610, 94611, 94618, 94619, and 94705; Alameda; Albany; Berkeley; El Cerrito; Kensington; and Piedmont.
MARIN COUNTY
Marin County home prices remained relatively flat in April compared to last year, ending at $1,388,000. The pace of home sales accelerated again with homes generally selling in about 32 days, slightly faster than last year. See Marin County market statistics for April.
Defining Marin County: Our real estate markets in Marin County include the cities of Belvedere, Corte Madera, Fairfax, Greenbrae, Kentfield, Larkspur, Mill Valley, Novato, Ross, San Anselmo, San Rafael, Sausalito, and Tiburon.
NAPA COUNTY
After a slow winter season, Napa County April median sales price picked up pace again and increased 6.1 percent above last year, to a median of $700,000. Also, homes continued to sell at a faster pace than in the previous year, with an average of 49 days on the market before entering into a contract. See Napa County market statistics for April.
Defining Napa County: Our real estate markets in Napa County include the cities of American Canyon, Angwin, Calistoga, Napa, Oakville, Rutherford, St. Helena, and Yountville.
SAN FRANCISCO — SINGLE-FAMILY HOMES
Median home prices for single-family homes jumped in April following a seasonal decline, bringing San Francisco April’s median price to $1,632,500. The number of homes under contract, however, accelerated notably reflecting anticipations over IPO impacts. See San Francisco single-family-home market statistics for April.
SAN FRANCISCO — CONDOMINIUMS
At $1,222,000 median sales price, San Francisco condominiums trended slightly below last year’s median price which is mostly a function of an increase in sales of smaller units. However, buyer activity is picking up notably with an 11 percent point increase in number of units under contract compared to last year. See San Francisco condominium market statistics for April.
SILICON VALLEY
Silicon Valley median prices continued to show some weakness in April compared to last year, however the area saw a large jump in home prices last spring. Overall, buyers are continuing to see more homes to choose from and less buyer competition. See Silicon Valley market statistics for April.
Defining Silicon Valley: Our real estate markets in Silicon Valley include the cities and towns of Atherton, Los Altos (excluding county area), Los Altos Hills, Menlo Park (excluding east of U.S. 101), Palo Alto, Portola Valley, and Woodside.
MID-PENINSULA SUBREGION
The median sales price in the Mid-Peninsula continued to trend lower in April compared to last year, however year-over-year declines are diminishing following very slow winter months. Buyers are returning, however, causing a 4 percent point increase in homes under contract compared to last April. See Mid-Peninsula market statistics for April.
Defining the Mid-Peninsula: Our real estate markets in the Mid-Peninsula subregion include the cities of Burlingame (excluding Ingold Millsdale Industrial Center), Hillsborough, and San Mateo (excluding the North Shoreview/Dore Cavanaugh area).
SONOMA COUNTY
At $645,000, median home prices in Sonoma County remain below last year’s post-fire peaks but are still ahead of prices seen before the fires. Pace of sales has also picked up to an average of 42 days which is back to rates seen before the fires. See Sonoma County market statistics for April.
Defining Sonoma County: Sales data in the adjoining chart includes all single-family homes and farms and ranches in Sonoma County.
SONOMA VALLEY
Median home prices in Sonoma Valley stood at $718,000 in April, holding relatively steady over the last few months but down last year’s April peak led by post-fire activity. However, homes are selling faster than last year, averaging 35 days on the market, down 13 days from 48-day average last April. See Sonoma Valley market statistics for April.
Defining Sonoma Valley: Our real estate markets in Sonoma Valley include the cities of Glen Ellen, Kenwood, and Sonoma.
LAKE TAHOE/TRUCKEE — SINGLE-FAMILY HOMES
At $755,000, median prices of single-family homes in Lake Tahoe/Truckee maintained below last year’s peak which was driven by a number of luxury new construction sales. However, solid buyer demand is evident in shorter days on market which averaged 70 days in April, down from 86 days last year. See Lake Tahoe/Truckee single-family-home market statistics for April.
Defining Tahoe/Truckee: Our real estate markets in the Lake Tahoe/Truckee region include the communities of Alpine Meadows, Donner Lake, Donner Summit, Lahontan, Martis Valley, North Shore Lake Tahoe, Northstar, Squaw Valley, Tahoe City, Tahoe Donner, Truckee, and the West Shore of Lake Tahoe.
LAKE TAHOE/TRUCKEE — CONDOMINIUMS
At $450,100, condominium prices in the Lake Tahoe/Truckee region picked up from winter lows, but still trend 6.2 percent below last year. Pace of sales has also picked up in April following the winter lull to an average of 109 days on the market, which is still about 30 days below last year pace. See Lake Tahoe/Truckee condominium market statistics for April.
Defining Tahoe/Truckee: Our real estate markets in the Lake Tahoe/Truckee region include the communities of Alpine Meadows, Donner Lake, Donner Summit, Lahontan, Martis Valley, North Shore Lake Tahoe, Northstar, Squaw Valley, Tahoe City, Tahoe Donner, Truckee, and the West Shore of Lake Tahoe.